Home sales fell 4% in May compared to 2019

The sale of homes fell 3.8% compared to May 2019, according to the Real Estate Registry Statistics of the College of Registrars of Spain. In May of this year there were 92,987 operations, compared to 93,979 the year before the pandemic. In 2020, the year of the confinement, the total of operations was 37,809.

Total sales fell 1.1% compared to 2019. By region, the biggest drops occurred in the Canary Islands (-20.2%), Ceuta (-21.7%), the Balearic Islands (-15.8%) and Navarra (-11.5%), while in Melilla (34.9%), Aragon (14%), Murcia (11.5%), La Rioja (5.8%) and Madrid (5.7%) recorded rises.

Within the variety of data that exist to follow the evolution of the real estate market, the registry statistics are, together with the data of the General Council of Notaries, the most accurate. They are data of registered and real transactions, more “pure” than the price or offer data that real estate portals can offer.

This fall is added to that of the land price throughout Spain with respect to 2019. The land price data is not of great quality but the recent collapse registered anticipates, according to experts, a slight drop in house prices.

The number of mortgages also goes down

According to the Real Estate Registry Statistics of the College of Registrars of Spain, the number of total mortgages fell 3.8% compared to the same month of 2019, after registering 45,404 operations. However, when comparing it with May 2020, the increase has been 32.2%.

Home mortgages fell 1.4% compared to 2019. Then there were 33,587. This year there have been 33,114.

By autonomous communities, the greatest decreases occurred in the Balearic Islands, the Canary Islands, Castilla y León and La Rioja. The largest increases occurred in Aragón, Asturias, Cantabria and Murcia.


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